Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
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| We also had a very good year in decarbonizing our processes |
| The best historical results in energy efficiency with our RefTOP program with reduction in carbon intensity and also with an increased energy intensity in the refineries, leading to a lower consumption of fuel natural gas with very significant results, putting us on the path to even faster energy transition |
| I'm going to continue talking about technology with the OTC award, the highest award in the oil and gas industry |
| I will talk about the RTC segment with possibly the best results in history, both from an operational and financial standpoint, as well as from a sustainability perspective, with HSC results and also with very good progress in energy efficiency |
| Of course, we're very proud of the results we had in implementing our technologies at Petrobras, the industry for which we work and we're also celebrating the different awards that we've received |
| We were very successful throughout the year, considering the best logistics and refinement conditions we have |
| People are definitely our highest asset due to their effort, due to the love for what they do and we're building a solid and promising future for our company |
| Our returns were the highest in the industry |
| This makes us very proud |
| Dear shareholders, investors, I'm very happy to talk to you today, not only because of the excellent economic and financial results we're going to present today, but especially because I am convinced we're building a more robust Petrobras that is more resilient and is better able to generate value on the long-term to its shareholders and for society facing the numerous challenges that we know and don't know created by this world in transition |
| And we had the highest energy efficiency in our history |
| Concerning the exports of byproducts, there was an increase of 5% and I'd like to highlight the increase in the exports of gas because of the change in quality, which is quite positive for the operation |
| We also improved our carbon efficiency, cutting 1.8 million tons of CO2 from our emissions |
| And we also had a very good placement in the Top 100 Corps Ranking on innovation with startups |
| We are still achieving the second best results in our history in EBITDA, in operational cash flow, the highest profits among publicly-traded Brazilian companies, the third highest in global companies below Exxon and Shell, but above Chevron and Total, 13 operational records, gas processing, refining, logistics, patents engineering, reducing financial debt |
| The presence of the pre-salts from 73 to 78, as I said before, largely accounts for this decrease in the total production cost in deep waters and shallow waters, a little more than 20% of our production, with very attractive numbers |
| And also with the RP division achieving very good results for the company, which has certainly contributed to us reaching the financial earning results with the pre-salt load of 65% in the processing of the pre-salt oil across all refineries |
| So I just have a very positive and upbeat note to say goodbye |
| We even received awards as the best in Latin America and one of the best in the world |
| So it's a year of achievement and we'll continue to work strongly in that direction to achieve these goals |
| So we're doing well |
| And we have very good results that give us strength to face the challenges involved in expanding our downstream in line with our strategic planning, as I said |
| We ended the year at 60% of participation from diesel S10 and you can see on the left-hand side a few important production numbers in several of our production units, with our refineries having contributed to these fantastic operational results in 2023 |
| We also had very significant numbers and the pre-salt production in our mix has been growing from '22 to '23, it grew from 73% to 78% |
| That's a very strong competitive advantage |
| If you look at the amortization, Petrobras closed '23 with a cash of close -- something in the range of $18 billion and cash available in the short term of 8 billion, which is solid and in line with the market turbulence, which reassures us that Petrobras will be able to face the situation |
| We're offering to our clients a very competitive price, maximizing how we optimize our assets and we're capturing good margins from the Brazilian market as we said before |
| The operated production surpassed 4.05 barrels of oil per day, which is compared to the majors and that is a very robust operation |
| We're also working in the company to be positive in water |
| We're reaching record oil and gas production levels with fewer emissions |
| Statement |
|---|
| First, we've been seeing a challenging scenario in services |
| Between the Brent oil and the diesel sold, we had a margin devaluation of 23% |
| And why was that decision made? First, because the future is more challenging |
| In the last 18 to 24 months, we saw that it was disattaching itself to that, and it was a bit random |
| It's concerned with the global scenario in '24 and '25 |
| And that, in turn, leads us to having to manage the cash flow differently, and that may lead to misunderstandings |
| What I'm seeing here is that it's under control |
| The lifting cost went down from 5.8 to 5.6 barrels of oil equivalents produced, very significant amounts |
| And we can see that in line with Brent and crack spread, you see a reduction of 21% to our EBITDA |
| This year, we have fewer foreseen problems, right? We have one FPSO that's ramping up and some areas in decline |
| If you look at diesel, you see a reduction of 1% as compared to 2022, basically because of two factors |
| And there's another possibility that's equally remote |
| Jean mentioned during his speech that as the reserve was constituted, this will continue to -- there would continue to be a possibility for us to pay extraordinary dividends |
| And of course, this is caused by the COVID pandemic and by the ongoing conflicts |
| And please correct me if I'm wrong, I understand that that's the least damaging solution for the company among all options |
| I'd like to once again reiterate we're looking at the chat, and there is an indication that there is still some confusion about the reserves |
| And we can see this happening in a scenario of high inflation, strong pressure on shipping |
| In the external scenario, on average, in comparison with last year, we had a valuation of 18% in the brand, which is significant and has impacts on our financial results |
| If Petrobras has losses in 24 months, the possibilities of Petrobras to generate cash with its capital structure and considering how it manages its finance of generating loss in 2024 is a very small possibility |
| But the curve is under control |
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